JAI CORPORATION LIMITED, MUMBAI V. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(4), MUMBAI

ITA 546/MUM/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 2782 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-02-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2013-2014
• Appeal Filed On: 29-01-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJIV GUBGOTRA
• Assessee Lawyers: ANUJ KISNADWALLA
• Section: 143(3); 14A

Judgement Text

IN THE INC OME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI BEFORE HONBLE SHRI SANDEEP GOSAIN, JM & HONBLE SHRI MANOJ KUMAR AGGARWAL , AM ./ I.T.A. NO .546/MUM/2018 ( / ASSESSMENT YEAR: 2013 - 14 ) JAI CORPORATION LTD. 82, MAKER CHAMBER - III, NARIMAN POINT, MUMBAI - 400 021. / VS. DCIT CC 6(4), 19 TH FLOOR, AIR BUILDING , NARIMAN POINT, MUMBAI - 400 021 ./ ./ PAN/GIR NO. A AACJ2591A ( / APPELLANT ) : ( / RESPONDENT ) & ./ I.T.A. NO .431/MUM/2018 ( / ASSESSMENT YEAR: 2013 - 14 ) DCIT CC 6(4), 19 TH FLOOR, AIR BUILDING, NARIMAN POINT, MUMBAI - 400 021 / VS. JAI CORPORATION LTD. 82, MAKER CHAMBER - III, NARIMAN POINT, MUMBAI - 400 021. ./ ./ PAN/GIR NO. AAACJ2591A ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI ANUJ KISNADWALLA, AR / RESPONDENTBY : SHRI RAJIV GUBGOTRA, DR / DATE OF HEARING : 26 /02 /201 9 / DATE OF PRONOUNCEMENT : 27.02.2019 2 I.T.A. NO. 546 & 431/MUM/2018 M/S JAI CORPORATION LTD. / O R D E R PER SANDEEP GOSAIN, JUDICIAL MEMBER : THE P RESENT TWO A PPEAL S FILED BY THE REVENUE AND ASSESSEE ARE AGAINST THE ORDER OF LD. COMMISS I ONER OF INCOME TAX (APPEALS) - 54, MUMBAI DATED 13 .10 .17 FOR AY 2013 - 14 RESPECTIVELY. 2. T HE FACTS CONTAINED IN BOTH THE APPEALS FILED BY THE ASSESSEE AND REVENUE ARE IDENTICAL, THEREFORE FOR THE SAKE OF CONVENIENCE; THEY ARE CLUBBED, HEARD AND DISPOSED OF BY THIS CONSOLIDATED ORDER. 3. AS PER THE FACTS OF THE PRESENT CASE, THE ASSESSEE HAD MADE SUO - MOTO DISALLOWANCE OF RS. 88,78,597/ - U/S 14A R.W.R. 8D OF THE I.T. ACT, WHEREAS THE AO H AD DISALLOWED RS. 5,59,90,117/ - , WHILE PASSING ORDER OF ASSESSMENT U/S 143(3) OF THE I.T. ACT. 4. AGGR IEVED BY THE SAID ORDER, THE ASSESSEE FILED APPEAL BEFORE LD. CIT(A) AND THE LD. CIT(A) AFTER CONSIDERING THE CASE OF BOTH THE PARTIES HAD ALLOWED THE APPEAL FILED BY THE ASSESSEE FOR STATISTICAL PURPOSES BY DIRECTING THE AO TO COMPUTE THE DISALLOWANCE AFR ESH AS PER THE DIRECTIONS MENTIONED IN PARA NO. 6 3 I.T.A. NO. 546 & 431/MUM/2018 M/S JAI CORPORATION LTD. OF THE ORDER OF LD. CIT(A). HOWEVER, IT WAS ALSO MADE CLEAR THAT THE DISALLOWANCE SHALL NOT BE LESS THAN WHAT WAS OFFERED BY ASSESSEE I.E. RS. 89,37,241/ - . 5. WE ALSO NOTICED THAT THE COORDINATE BENCH OF I TAT IN ITA NO. 4711 & 4712/MUM/17 FOR AY 2011 - 12 & 2012 - 13 IN ASSESSEEES OWN CASE HAVD ALREADY RESTORED THE MATTER BACK ON IDENTICAL GROUND TO THE FILE OF AO FOR FRESH CONSIDERATION VIDE ORDER DATED 11.01.19. 6. IN THE IMPUGNED ORDER ALSO, LD. CIT( A) HAD GIVEN SIMILAR DIRECTIONS, THEREFORE KEEPING IN VIEW THE DETAILED ORDER PASSED BY LD. CIT(A) AND ALSO THE ORDERS PASSED BY THE COORDINATE BENCH OF ITAT IN ASSESSEES OWN CASE, WE FIND NO REASONS TO INTERFERE IN THE ORDER PASSED BY LD. CIT(A) 7 . EVEN N O NEW FACTS O R CONTRARY JUDGMENTS HAVE BEEN BROUGHT ON RECORD BEFORE US I N ORDER TO CONTROVERT OR REBUT THE FINDINGS SO RECORDED BY LD. CIT(A). THEREFORE, THERE ARE NO REASON S FOR US TO DEVIATE FROM THE FINDINGS SO RECORDED BY THE LD. CIT(A). HENCE , WE AR E OF THE CONSIDERED VIEW THAT THE FINDINGS SO RECORDED BY THE LD. CIT (A) ARE JUDICIOUS AND ARE WE LL 4 I.T.A. NO. 546 & 431/MUM/2018 M/S JAI CORPORATION LTD. REASONED. RESULTANTLY, THE GROUND S RAISED IN BOTH THE APPEALS ARE DISMISSED . 8 . IN THE NET RESULT , BOTH THE APPEAL S FILED BY THE ASSESSEE AND REVENUE STANDS DISMISSED WITH NO ORDER AS TO COST . ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH FEB , 20 1 9 SD/ - SD/ - ( MANOJ KUMAR AGGARWAL ) (SANDEEP GOSAIN) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI ; DATED : 27 .02 .201 9 SR.PS . DHANANJAY / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F I LE / BY ORDER, . / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI